FOR IMMEDIATE RELEASE
December 6, 2016
Byline Bank announced this week that it has successfully completed its conversion of Ridgestone Bank, to include branch locations in Brookfield, Wisconsin and Schaumburg, Illinois, as well as Ridgestone’s nine loan production offices.
The conversion included banking systems, signage and marketing, with all offices operating with existing staff in place. This completes the acquisition, which was announced earlier this year.
Byline Bank is also proud to announce it is now a Top 10 Lender in the nation for SBA Loans thanks to its new government-guaranteed lending team, Byline Small Business Capital. The group includes a team of dedicated industry experts with deep knowledge and experience in SBA and USDA lending, that previously operated as Ridgestone Bank. Byline Bank will now offer a wide variety of government-guaranteed solutions for small business owners including the SBA 7(a) Loan Program, the SBA CAPLines Program, the SBA 504 Loan Program, and U.S. Department of Agriculture Business and Industry (“USDA B&I”) Loans. Byline Small Business Capital is a recognized preferred lender by the SBA.
“We couldn’t be more pleased about our partnership with Ridgestone Bank, and feel the addition of government guaranteed lending to our banking platform fits well with our promise to provide comprehensive banking solutions to our customers,” said Alberto Paracchini, President and CEO of Byline Bank. “Our new division of business is comprised of the lending experts from Ridgestone who bring a wealth of specialized knowledge to our organization.”
“As a national leader in government guaranteed lending, we plan to continue to grow our SBA and USDA footprint, and our combined resources will help accomplish that,” said Bruce Lammers, President of Small Business Capital.
About Byline Bank
Byline Bank is a privately-held, Chicago based bank with over $3 billion in assets and over 50 branch locations. Byline Bank is a full service commercial bank providing retail and business banking, commercial mortgages, and an array of banking products and services to consumer and business customers.
For more information please contact:
Byline Bancorp, Inc.
Director of Marketing, Byline Bank